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FOMC Preview: Why markets could be left disappointed

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The two-day Federal Open Market Committee meeting ends Wednesday - with a press conference from Fed Chair Janet Yellen - so what can investors expect?

Saxo's Mads Koefoed thinks that the Fed taking another USD 10 billion off its QE programme is a "forgone conclusion". Instead, Mads explains why markets are waiting to see a change in the Fed's "time language", but he thinks investors are likely to be left "disappointed" on this front.

Investors want to know when they should expect a rate hike in the US. Mads thinks that given the economic data in the States, a raise will happen "mid 2015 at the earliest". 

In addition to its policy statement, the Fed will also release its latest Summary of Economic Projections, which will include economic forecasts from FOMC members through 2017. But Mads thinks these "will probably be fairly unchanged".